OnMobile's FY21 revenue down 2.1% YoY at Rs 576 crore
The company's EBITDA grew by 66.9% to Rs 68.2 crore compared to Rs 40.9 crore
OnMobile Global today announced the financial results for fourth quarter and full year of FY21 ended March 31, 2021. The company's revenue for FY21 dropped 2.1% YoY to Rs 576 crore compared to Rs 588.4 crore.
The company's EBITDA grew by 66.9% to Rs 68.2 crore compared to Rs 40.9 crore. Operating profit was up 147.8% at Rs 55.4 crore from Rs 22.4 crore. Cash profit rose 38.7% to Rs 52.6 crore from Rs 37.9 crore. With efforts into cost optimisation, all profitability margins grew more than 1.5 times this year.
Revenues witnessed a drop of 6.2% QoQ at Rs 137 crore from Rs 146.1 crore mainly from Europe & MEA, and 9.7% YoY mainly from Europe due to covid. OnMobile said that its cost rationalization efforts and optimum marketing investments has helped it to reduce Manpower cost and Marketing cost which resulted in EBITDA growing from Rs 12 crore in Q4FY20 to Rs 15.4 crore in Q4FY21, reflecting a growth of 28.2% YoY.
Marketing cost lowered by 10.9% QoQ and 5.8% YoY at Rs 6.1 crore due to optimum marketing investments. Other Opex costs declined by 6.8% QoQ and 48.3% YoY to Rs 10.4 crore.
Operating Profits grew by almost 1.5 times YoY to Rs 12.5 crore with the margin of 9.6% during the quarter. PAT at Rs 14.9 crore grew by 31.9% with an 11.4% margin during the quarter. DSO improved to 116 days in Q4FY21 vs 120 days in Q3FY21.
Challenges Arena, the company's Quiz / Trivia Games app, has launched with one telco and one OTT app in April ‘21. The app has 350,000 gross additions & 110,000 paying subscribers on the telco in 2 months. It had 1.1 million users on the OTT in 2 months. The Target ARPU is $0.2 in India and $6.0 in Europe.
The company has three new deployments in progress for the app. It is in conversation with over 10 telecom operators across Asia, Europe, Middle East.
ONMO, which is a cloud gaming platform for casual esports & social play on short game moments, launched B2C beta version with virtual currency on May 20, ’21 with 29 games and 850 unique moments. Launching B2C cash battles/ monetization in Q2 ’21. It has started B2B/ telco partnership conversations with about 20 telecom operators across Europe, Asia & Middle East.
